A day after reports flew that Russia has become the world's biggest buyer of the safe haven yellow gold metal, the country's Gold Producers' Union said Vladimir Putin's turf is poised to become the world's third biggest gold producer by 2015.
This as higher prices of the metal in the world market are sure to boost mining companies to increase production volumes, Sergey Kashuba, chairman of the Gold Producers' Union, said at a conference in Moscow on Tuesday. Gold prices are expected to reach $1,845 per ounce in 2015, according to a January report by Morgan Stanley, when it averaged $1,668.77 an ounce in 2012...............................................Full Article: Source